Dollar set for weekly gain on stalled economic recovery
16.10.2020 -

The dollar is on course for its best week of the month on Friday as rising coronavirus cases and little progress in a U.S. stimulus package prompted investors to seek safer assets. The dollar index rose to a two-week high of 93.910 as Europe and Britain reimposed restrictions. The U.S. Midwest is also battling record…

Oil prices drop as OPEC+ slashes cuts, coronavirus cases weigh on sentiment
16.10.2020 -

Oil prices dropped on Friday on worries that major producers will continue with plans to lessen supple cuts despite a surge in U.S. and European COVID-19 cases curbing fuel demand. Brent crude futures fell 0.5%, or 22 cents, at $42.94 per barrel. U.S. West Texas Intermediate crude futures for November contract dropped 0.4%, or 16…

China’s economy sees quarterly expansion as spending returns
16.10.2020 -

China’s economic rebound had gained momentum in the third quarter. This followed after consumers were seen returning to their spending practices and as trading partners resumed operations, shaking off the historic downturn seen earlier this year. On an annual basis, the world’s second-largest economy is expected to record a 5.2% expansion from July to September….

Asian shares decline on virus-beaten sentiment
16.10.2020 -

Asian share markets shed initial earnings, recording a weak performance on Friday. This could be attributed to investors’ subdued sentiment as the United States and Europe monitored an upsurge of fresh coronavirus infections. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.22% decline. U.S. stock futures dropped 0.12%, while China shares advanced during…

Gold prices slip amid COVID-19 resurgence, U.S. stimulus deadlock
16.10.2020 -

Gold prices fell on Friday amid a spike in COVID-19 cases in Europe and the U.S., and the ongoing stalemate in the U.S. Congress over a COVID-19 package. Gold futures slipped by 0.03%, trading at $1,908.30 per ounce at 12:36 AM ET (4:36 AM GMT), losing gains made earlier. However, losses were limited with the…